Terms of Payment

Posted in Marketing and Strategy Terms, Total Reads: 1339

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Definition: Terms of Payment

These are the conditions under which the seller will complete the sale if they are satisfied. The terms include the specific period within which the buyer needs to pay off the amount dues, demands related to cash in advance, cash on delivery, 30 days or more deferred payment and similar other provisions. It is the conditions under which the vendor completes the sale. The objectives covered within it are: